An excellent piece on the dramatic variations in wage growth
that many fields are experiencing:
“A new study by the
Bureau of Labor Statistics shows that pay near the top of the scale in fields
like art, entertainment and media was six times what it was near the bottom in
2014, compared with four times in 2007. The best-paid health care professionals
now earn nearly four times what workers in the lowest tier make, compared with
less than three times in 2007.
Nor are industries
like finance and real estate, which have gilded New York City’s economic
fortunes in recent years, immune.
For workers making
less than $50,000 in these fields, wages fell last quarter, while their
colleagues in the $75,000 and above category enjoyed a 3.4 percent rise in
wages, according to ADP, the payroll processing giant.”